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Nov 22, 2012
11/12
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FBC
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if you tax everybody that obama is talking about taxing, the most you could cut off the someg insanely small. that will not do anything. the message has to be to cut spending and until that resonates with americans, have to realize the economy will keep declining. melissa: ho huggies is a spendig problem, not a revenue problem? >> the left is always going to try to appeal to the low information voter. so we have to take information, make it really simple, on complicated and communicated in a narrative that can be marketed to the masses of people. if you take the tax increases of those making over $250,000 per year, it is a drop in the bucket. 56 billion sounds like a lot of money we're talking about reducing the deficit to something like 1.15 trillion bit of 1.2 trillion. we have to communicate that we have to keep sticking it to them to say that debt is on our children and future and some point the grim reaper will take itack so we have some point when people are hurting bad enough realizing obama has not come in and saved us yet, maybe then they will start listening. >> thank you. me
if you tax everybody that obama is talking about taxing, the most you could cut off the someg insanely small. that will not do anything. the message has to be to cut spending and until that resonates with americans, have to realize the economy will keep declining. melissa: ho huggies is a spendig problem, not a revenue problem? >> the left is always going to try to appeal to the low information voter. so we have to take information, make it really simple, on complicated and communicated...
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Nov 29, 2012
11/12
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KRON
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this would be a good tax refund. i the clock is ticking and we have 33 days until the clift. we love numbers. if we can do it countdown will do with the this is the latest. >> hopefully they can get a deal done. >> lindsay lohan was arrested a gang for fighting. here she is she was released from jail this morning. she has a black jacket covering her head and apparently she identify with that woman as she hitter in the face. this was at a nightclub overnight. the witnesses stated that she struck are in the face with a hand. she did not require medical condition lohan has another arrest under her belt. she is charged with third degree assault. >> 6:53 a.m. and will be right back. it is strauss' size of this is good news compared to yesterday. enjoy your ride to work or school and will be right back. line towards are rust is in trouble. they're having problems fulfilling torrid orders. many customers who place orders stated that they're receiving e-mail sector orders have been canceled. numerous customers posted their stories on torahs are russ facebook page. they stated that cu
this would be a good tax refund. i the clock is ticking and we have 33 days until the clift. we love numbers. if we can do it countdown will do with the this is the latest. >> hopefully they can get a deal done. >> lindsay lohan was arrested a gang for fighting. here she is she was released from jail this morning. she has a black jacket covering her head and apparently she identify with that woman as she hitter in the face. this was at a nightclub overnight. the witnesses stated...
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Nov 22, 2012
11/12
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CSPAN
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it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country. >> do you want to comment a little bit about what you expect from the next six weeks? not even six weeks? however many weeks it is now between -- between now and the start of this booklet. working in the white house limits what you can say, but how you see his plan at between now and january? >> steve is exactly right, all the you are seeing a very concerted members of the house dig in on a no revenues. it is good to see many republicans saying yes. i cannot get into a lot of details -- i think it is unrealistic to expect next week we will
it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country....
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Nov 26, 2012
11/12
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CSPAN
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and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. voters have said repeatedly this is an issue they want addressed moving forward. from an economic standpoint and for the future of the country. >> you think the president will do something dramatic? >> he has a plan to move forward. >> is the new democratic movement dead or no longer relevant? >> i think that our party has always been the big party and we have different views and that is healthy. that is exactly why i believe i am a democrat. i believe our vision of the country has a lot of people working across party lines and there are folks in our party who all want to do one thing. that is work to move the country forward. w
and i think taxes. we had a fight where you had the president advocating to increase taxes on people who made more than $250,000 a year. >> looking ahead at the agenda, how big is climate energy? >> if you look at what to this country needs to do to create jobs, having a sound energy policy makes incredible sense. i think there are it a lot of voters who cared deeply about this. voters have said repeatedly this is an issue they want addressed moving forward. from an economic...
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Nov 25, 2012
11/12
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CNNW
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capital gains taxes rise from 15% to 20% for most people who file taxes. taxes on dividends rise from 15% to your top income tax rate which could be depending how much you earn, as much as 39.6%. given that a lot of people rely on those dividends for their income, it's no surprise to see some of the highest dividend-yielding stocks get slammed in the past few weeks. take a look at some of those. but as i've been saying, today, if we can get past this fiscal cliff standoff, there are going to be a lot of opportunities for businesses to blossom and investors to make money, even if there are higher taxes on the horizon. mike holland makes money for his clients. good to see you, welcome to the program. i haven't talked to you for a while. tell me about this drop from november 7th, first of all. how much of that is fear of fiscal cliff, how much of it is people who don't like obama, what was that? >> it's all the aboff. you used the word heebie jeeb bebefore, that's a good, professional description of what's going on. it's an exextension of what we've had since
capital gains taxes rise from 15% to 20% for most people who file taxes. taxes on dividends rise from 15% to your top income tax rate which could be depending how much you earn, as much as 39.6%. given that a lot of people rely on those dividends for their income, it's no surprise to see some of the highest dividend-yielding stocks get slammed in the past few weeks. take a look at some of those. but as i've been saying, today, if we can get past this fiscal cliff standoff, there are going to be...
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Nov 29, 2012
11/12
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KTVU
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eye 140
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"if congress does nothing, taxes up $2200." that $2200 morphed into a white house twitter campaign - #my2k - to encourage americans to weigh in on the debate. but ultimately, this still comes down to negotiations within, but mostly across, party lines. it's not clear how much twitter or input from small business will sway the balance one way or another. "my view is that i'm happy to be a part of that. i'm grateful for the opportunity and it's not every day that you get to spend an hour in a room with the president." ceos from wall street met with the president wednesday. morgan stanley ceo james gorman is asking his 16,000 employees to reach their members of congress. and at&t's ceo, randall stephenson, is involved with a group called "fix the debt," which is lobbying congress as well. overhaul action is happening overseas. the european commission is proposing a plan that will completely change the eurozone by creating a common budget for the 17 nations. european leaders will talk more in depth about how to keep better track of
"if congress does nothing, taxes up $2200." that $2200 morphed into a white house twitter campaign - #my2k - to encourage americans to weigh in on the debate. but ultimately, this still comes down to negotiations within, but mostly across, party lines. it's not clear how much twitter or input from small business will sway the balance one way or another. "my view is that i'm happy to be a part of that. i'm grateful for the opportunity and it's not every day that you get to spend...
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Nov 22, 2012
11/12
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FBC
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why do you want to pay more taxes? >> well, i don't want to pay more taxes. i don't think anybody wants here. i'm part of a group called the patriotic millionaires and we are all willing to pay more taxes. so it's clear that all of us, the whole country is in a position where all of us individuals, the working people, the wealthy people, corporations, all of us together have to pay for all of the spending that we have done over the last 12 years. >> why don't we cut spending? why don't we start with something that senator coburn announced today. there is so much that can be saved by cutting nondefense spending, things like a smartphone application. it these are the things we are spending money on. they cut that we can make. >> so we have to do new cuts and paperwork. we have to pay for all of the spending we have done for the last 12 years. and we are kind of all in this together. so i don't think that, you know, i have spent the last two days talking to both sides of the senate. i have spent time talking to representatives in the house and white house. the m
why do you want to pay more taxes? >> well, i don't want to pay more taxes. i don't think anybody wants here. i'm part of a group called the patriotic millionaires and we are all willing to pay more taxes. so it's clear that all of us, the whole country is in a position where all of us individuals, the working people, the wealthy people, corporations, all of us together have to pay for all of the spending that we have done over the last 12 years. >> why don't we cut spending? why...
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Nov 24, 2012
11/12
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FOXNEWSW
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obama's plan to keep the taxes low bush tax cuts and obama tax cuts. to keep it low. i think it should be agreed to right along the wape discuss whether or not the millionaires should pay the clin ribiton tax rates. millionaires themselves n and polls show they need to pay more taxes and percent of the americans believe they need more taxes and lowest tax necessary 80 years and we have a high deficit. they can afford to pay more. >> the fact is, many republicans are saying okay. we want to talk about taxes. let's also take a look at entitlements and speppeding cuts and so far, the white house hasn't put forward anything on paper that they are willing to discuss. >> that is one of the hardcore issues here. there is an idea coming from the democrats we are going to raise taxs and off set it by raising taxings. we have a staggering economy and unemployment and we'll hit 50 million americans on food stamps and no end for that number to constantly grow even as unemployment rates went down. we are adding to people on food stamps which doesn't make sense. how do youriform th
obama's plan to keep the taxes low bush tax cuts and obama tax cuts. to keep it low. i think it should be agreed to right along the wape discuss whether or not the millionaires should pay the clin ribiton tax rates. millionaires themselves n and polls show they need to pay more taxes and percent of the americans believe they need more taxes and lowest tax necessary 80 years and we have a high deficit. they can afford to pay more. >> the fact is, many republicans are saying okay. we want...
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Nov 29, 2012
11/12
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KRCB
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, it would put you in the 50% tax bracket. it means i would get $125 million, free and clear, which is my money. i would invest some of it in the stock market, donate some of it to the churches. >> i would take a lump sum. >> reporter: why would you take a lump sum? >> because i don't know how long i'm going to live. >> tom: we spoke with susan bradley, founder of the sudden money institute and a certified financial planner. susan, tha thanks for joining us. an inheritance or a lottery -- how do you make that decision between taking a lump sum or stretching out the payments. >> you take a lot of time before you get to that decision. it is certainly not your first decision. your first thing to do is change management. we do a triage to see what is most important, and we deal with urgent things first, that are really going to affect well-being. usually the lump sum versus payment is something that you can put off for at least a month or two. >> tom: are we culturally bias to take the money and run now, compared to wait a generat
, it would put you in the 50% tax bracket. it means i would get $125 million, free and clear, which is my money. i would invest some of it in the stock market, donate some of it to the churches. >> i would take a lump sum. >> reporter: why would you take a lump sum? >> because i don't know how long i'm going to live. >> tom: we spoke with susan bradley, founder of the sudden money institute and a certified financial planner. susan, tha thanks for joining us. an...
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Nov 27, 2012
11/12
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KTVU
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the president wants tax breaks for 98% of americans and 97% of small businesses, while raising taxes on the wealthy. most republicans remain against tax hikes and want to cut spending on social programs such as medicare and social security. however, the latest tone out of washington is encouraging. "as thomas jefferson said, and this is a quote, 'we should not put off tomorrow what we can do today.'" "the only balanced approach is one that includes real and lasting reforms, so republicans have stepped out of our comfort zone." in the latest manueverings, the obama administration points out the typical american household will pay $2,200 in additional taxes next year, which could hurt consumer spending by $200 billion in 2013 and threaten christmas shopping this season. house speaker john boehner and a few other key republicans appear willing to consider tax hikes. billionaire warren buffett chimes in that tax hikes won't stop the wealthy from investing. in our cover story, the woman who led the securities and exchange commission after the 2008 financial crisis is stepping down. mary s
the president wants tax breaks for 98% of americans and 97% of small businesses, while raising taxes on the wealthy. most republicans remain against tax hikes and want to cut spending on social programs such as medicare and social security. however, the latest tone out of washington is encouraging. "as thomas jefferson said, and this is a quote, 'we should not put off tomorrow what we can do today.'" "the only balanced approach is one that includes real and lasting reforms, so...
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Nov 23, 2012
11/12
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FBC
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for republicans that means revenue through tax reform. for democrats that means entitlement and spending changes and unions are saying no way to any type of changes for medicare, medicaid and social security, launching a lobbying and ad campaign targeting democratic and republican lawmakers in pennsylvania, missouri, virginia and releasing a statement saying we cannot cut our way to job creation. balance the budget at the expense of the middle class and destroy programs that provide economic security for millions of americans. one conservative says these groups that telling the president what he already believes. >> he likes the read transfer of income from one group to another under government control. he is for that. he did not fix the unsustainable entitlement programs. >> we are early in the negotiating process and democrats have shown a willingness to discuss and unchangeds which makes these labor unions nervous. dave: even though retail sales were down our next guest says we will see an improvement in holiday season sales this year.
for republicans that means revenue through tax reform. for democrats that means entitlement and spending changes and unions are saying no way to any type of changes for medicare, medicaid and social security, launching a lobbying and ad campaign targeting democratic and republican lawmakers in pennsylvania, missouri, virginia and releasing a statement saying we cannot cut our way to job creation. balance the budget at the expense of the middle class and destroy programs that provide economic...
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Nov 22, 2012
11/12
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FOXNEWSW
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>> you mean the bush tax cuts? >> that raises a question whether it's under the tax cuts or whether they insist that some of the revenue raiser and so, you know, obama agrees to give us some coverage and the revenue and something else, and bank of america is pretty harsh out on the ledge in terms of the bush tax cuts and i think the comments, bill crystal saying, what's the big deal, why don't we tax millionaires, if you have enough republicans coming out. gives the president to fight for this and i think that the republicans have to ask, do we really want to go down fighting and is this the mountain we want to die on fighting for 1% of the country? and so i'm not going to predict. i don't know what's going to happen because i found the behavior of people on the hill very unpredictable. >> it is. and something else on the table, the president's health care law coming from folks saying it's such a huge driver of the economy if fully implemented it has to be up for negotiation. house speaker john boehner wrote an op-
>> you mean the bush tax cuts? >> that raises a question whether it's under the tax cuts or whether they insist that some of the revenue raiser and so, you know, obama agrees to give us some coverage and the revenue and something else, and bank of america is pretty harsh out on the ledge in terms of the bush tax cuts and i think the comments, bill crystal saying, what's the big deal, why don't we tax millionaires, if you have enough republicans coming out. gives the president to...
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Nov 29, 2012
11/12
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KPIX
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scares of automatic spending cuts and tax increases could take effect january 1st. democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending cuts. he's also getting ready to take his fiscal cliff message on the road. he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on law
scares of automatic spending cuts and tax increases could take effect january 1st. democrats moved by president obama and congressional republicans signaled they are willing to compromise on changing tax rates and spending reductions but the negotiations are moving very, very slowly. susan mcginnis is in washington with the latest. susan, good morning to you. >> reporter: good morning. the president is sending his top two negotiators to talk with lawmakers today about possible spending...
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Nov 25, 2012
11/12
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CNNW
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anti-tax crusader slamming chambliss. he broke with norquist no tax break pledge. he cares more about his country than the pledge. >>> there were signs truce between israel and hamas is taking hold this weekend. palestinian sources say israel has eased restriction on gaza fishermen allowing them to go up to six miles from shore. the fishermen were restricted to three miles into the mediterranean. palestinian farmers resumed tending land. hamas official say egyptian and israeli officials are expected to meet monday to discuss details of that cease-fire. >>> to egypt now where what's happening makes well, the arab spring look like it never ended. we remember the crowds of demonstrators, protesters, a regime bent on consolidating and preserving its power. that was then. this is the scene right now. demonstrators are back spending the night in tahrir square. president mohamed morsi announced sweeping new powers for himself. ordering egyptian court not to overturn any decree or law issued since he took office. as the crowds gather there's a growing unease over what coul
anti-tax crusader slamming chambliss. he broke with norquist no tax break pledge. he cares more about his country than the pledge. >>> there were signs truce between israel and hamas is taking hold this weekend. palestinian sources say israel has eased restriction on gaza fishermen allowing them to go up to six miles from shore. the fishermen were restricted to three miles into the mediterranean. palestinian farmers resumed tending land. hamas official say egyptian and israeli...
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Nov 25, 2012
11/12
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CNNW
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you can say, in spirit, that i don't -- i'm against raising taxes in spirit. however, as a legislator, i have to make choices based on what's happening at that moment in time. and if you have -- if you have a rising deficit and you have a country where the economy is stagnating you may have to, in the short term or for longer periods of time raise revenue and you may have to do that through raising taxes. so to have ever taken that position was an extreme position. >> so lawmakers, we're talking about peter king, lindsey graham being the latest ones today, to say they might consider abandoning that no tax hike pledge, similar to how senator saxby chambliss said he would abandon the pledge for the american people. yes, they may have been extreme positions but for a long time most of these lawmakers didn't feel it was extreme, they felt it was the necessary thing to do, they were digging in heels for a very long time. so it does seem hike an incredible page that's being turned here to be able to now say, i'll consider abandoning that. it does seem like there is
you can say, in spirit, that i don't -- i'm against raising taxes in spirit. however, as a legislator, i have to make choices based on what's happening at that moment in time. and if you have -- if you have a rising deficit and you have a country where the economy is stagnating you may have to, in the short term or for longer periods of time raise revenue and you may have to do that through raising taxes. so to have ever taken that position was an extreme position. >> so lawmakers, we're...
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Nov 26, 2012
11/12
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MSNBCW
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take the alternative minimum tax. if the inflation index isn't advanced for that and i believe republicans and democrats want to do it, 23 million middle class americans will have a 2,000 to 3,000 dollars tax increase on that alone. >> let me interrupt you for a second. i was making this point a little earlier when you start talking about these financial things, you know, the i don't want so say minutia but the more specifics of the negotiations and what the numbers mean and the two different sides will tell you that the numbers are different, it is kind of hard for the average person on who doesn't have an mba to figure out what's going on here. >>> john mccain is suggesting the republican party should focus on bigger issues and leave abortion alone. during an interview yesterday the senator said while he is proud of his pro-life position, there are bigger things to worry about like the economy and national security. police are admitting they missed a potentially key piece of evidence in the casey anthony murder inve
take the alternative minimum tax. if the inflation index isn't advanced for that and i believe republicans and democrats want to do it, 23 million middle class americans will have a 2,000 to 3,000 dollars tax increase on that alone. >> let me interrupt you for a second. i was making this point a little earlier when you start talking about these financial things, you know, the i don't want so say minutia but the more specifics of the negotiations and what the numbers mean and the two...
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Nov 24, 2012
11/12
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CNNW
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capital gains taxes rise from 15% to 20% for most people who file taxes. taxes on dividends rise from 15% to your top income tax rate, which could be, depending on how much you earn, as much as $39.5%. given a lot of people rely on those for their income, it's no surprise to see some of the highest dividend yielding stocks get slammed in the past few weeks. as i have been saying, today, if we can get past this fiscal cliff standoff, there are going to be a lot of opportunities for b businesses to blossom and investors to make money. even if there are higher taxes on the horizon. mike is the chairman of holland and company. welcome to the program. i haven't talked to you for a while. tell me about the drop from november 7th, first of all. how much of that is fear of the fiscal cliff? how much of that is people who don't like obama? what was that? >> it's all of the above. you used the word heebie-jeebies before. it's a good professional description of what is going on and an extension of what's been going on since 2008. people have had a negative psychology
capital gains taxes rise from 15% to 20% for most people who file taxes. taxes on dividends rise from 15% to your top income tax rate, which could be, depending on how much you earn, as much as $39.5%. given a lot of people rely on those for their income, it's no surprise to see some of the highest dividend yielding stocks get slammed in the past few weeks. as i have been saying, today, if we can get past this fiscal cliff standoff, there are going to be a lot of opportunities for b businesses...
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129
Nov 29, 2012
11/12
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KGO
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eye 129
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let tax increases for the top 2% of earners go up. but the top gop leader in the house says that's a no-go. >> the goal here is to control the economy and control spending. you're not going to grow the economy if you raise tax rates on the top two rates. it will hurt small businesses. it will hurt our economy. why? this is not the right approach. >> reporter: boehner and president obama said they are optimistic that a deal can be reached by christmas. >>> turning overseas to egypt, where opponents of president mohamed morsi are calling for a second revolution. morsi is addressing his people today. a speech in which he's expected to discuss his move last week to seize near absolute power. thousands have been on the streets of cairo protesting that move since. morsi is showing no signs, though, of backing down. >>> and with the conflict in syria showing no signs of ending, the obama administration is reportedly considering deeper intervention there. this morning's "new york times" says no decisions have been made. but several options ar
let tax increases for the top 2% of earners go up. but the top gop leader in the house says that's a no-go. >> the goal here is to control the economy and control spending. you're not going to grow the economy if you raise tax rates on the top two rates. it will hurt small businesses. it will hurt our economy. why? this is not the right approach. >> reporter: boehner and president obama said they are optimistic that a deal can be reached by christmas. >>> turning overseas...
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Nov 27, 2012
11/12
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increases, 56% say we should raise tax on the wealthy. him going on the road is, what, to energize this and not leave it in washington like what was done before? is he learning from his mistakes of last time around? >> yeah, i think that's right. this is about learning. and this is -- he's basically undoing what he did wrong in the selling of obama care. he merely assumed that the policy would sell itself, leaving it up to congress to negotiate. and the republicans in many respects ate his lunch on that and really won the debate here. this is the way george w. bush ran his presidency. whether you liked or didn't like george w. bush, he was always out there being a salesman. it's the reality that we live in a entire campaign. it is strictly the only way to do this business. >> now, it would seem also, victoria, that the president is in a better position to really make his case. his approval rating is 52%. congress's approval rating is only 18%. so with him on the road with that kind of gap in who has the higher approval numbers, which is n
increases, 56% say we should raise tax on the wealthy. him going on the road is, what, to energize this and not leave it in washington like what was done before? is he learning from his mistakes of last time around? >> yeah, i think that's right. this is about learning. and this is -- he's basically undoing what he did wrong in the selling of obama care. he merely assumed that the policy would sell itself, leaving it up to congress to negotiate. and the republicans in many respects ate...
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Nov 26, 2012
11/12
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CNBC
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tax-exempt bonds sound good when taxes are going up but the value of the bonds have been bit up because panic buying is pushing our interest rates go up. you'll lose a lot of principle on munis bonds. if you buy one today you have a 1% to 2% chance to the upside and a 40% chance of losing money. that's not good odds. run away from interest rate-sensitive bonds. that's my number one, you know, tip of the day, if you want to call it. stay away from that. >> the takeaway from ed. thank you for joining us, stewart. a pleasure. >>. >> 12 minutes before the closing bell. right now the dow jones industrial average is lower by 54 points. nasdaq higher by 70 point. >> violent protests in egypt are one of the many hot spots around the globe affecting our markets. we'll round off all of them and find out how they are affecting your money coming up next. >>> plus, one top democrat says members of his party threatening to jump off the fiscal cliff. they say, do it already! he says that's a business mistake. sandra levin joins us from capital to tell us why he thinks it's a baddied. working since i w
tax-exempt bonds sound good when taxes are going up but the value of the bonds have been bit up because panic buying is pushing our interest rates go up. you'll lose a lot of principle on munis bonds. if you buy one today you have a 1% to 2% chance to the upside and a 40% chance of losing money. that's not good odds. run away from interest rate-sensitive bonds. that's my number one, you know, tip of the day, if you want to call it. stay away from that. >> the takeaway from ed. thank you...
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Nov 22, 2012
11/12
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these are people who pay no income tax, 47% of americans pay no income tax. so my job is not to worry about those people. >> mitt romney's famous comments on the 47% raise two questions. how can he say that? how can he say a single mom working two yobs and taking advantage of the child tax credit and a senior that worked all of his life and enjoying the years of his life that he paid into how can he say they refuse to take responsibility for their lives? the other question was what the hell did he mean? romney said the 47% likely to vote for obama were the same 47% who didn't pay federal income taxes and are the same 47% who are dependent on government? that's not even a little bit true, not a little. a lot of the folks who don't pay federal income taxes are seniors, the most republican leaning age group in the country and there is no 47% in the country that refuses to take responsibility for their lives. they just don't exist. romney wasn't all wrong. the number 47% really did hold the key to this election. it was not the number of people who vote for obama.
these are people who pay no income tax, 47% of americans pay no income tax. so my job is not to worry about those people. >> mitt romney's famous comments on the 47% raise two questions. how can he say that? how can he say a single mom working two yobs and taking advantage of the child tax credit and a senior that worked all of his life and enjoying the years of his life that he paid into how can he say they refuse to take responsibility for their lives? the other question was what the...
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Nov 23, 2012
11/12
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FOXNEWSW
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. there's the sign to the bullpen. here he comes. you wouldn't want your doctor doing your job, the pitch! whoa! so why are you doing his? only your doctor can determine if your persistent heartburn whoa! is actually something more serious like acid reflux disease. over time, stomach acid can damage the lining of your esophagus. for many, prescription nexium not only provides 24-hour heartburn relief, but can also help heal acid-related erosions in the lining of your esophagus. talk to your doctor about the risk for osteoporosis-related bone fractures and low magnesium levels with long-term use of nexium. possible side effects include headache, diarrhea, and abdominal pain. other serio
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. there's the sign to the bullpen. here he comes. you wouldn't want your doctor doing your...
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Nov 26, 2012
11/12
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expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >> we have been responsible as we remain firm on this point. no tax increases now for promised spending cuts that won't materialize later. the american people have seen that game before. they won't be fooled again. >> the top republican on the senate budget chel explained the g.o.p. plan to bring in mo
expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the...
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Nov 28, 2012
11/12
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friendly tax structure. ue ktah and iowa round occupy t top 5. california takes the top spot of worst run state for second year in a row now. they match debt rates and unemployment rates for that fall. california has one of th income tax burdens and according to the tax foundation it's the third worst business tax climate in the country. on the upside the report says the state is making progress with getting finances back on track. read island, arizona and new jersey round out the top worst run states. >>> good information there, diane. >>> thank you so much. 15 minutes before the hour. that's the rundown. if your mom is nagging you about getting married we determine if that mom of yours is normal or nuts. sometimes it is easy to spot a liar. >> it is a bit extreme. >> that's the thing nowadays. >> he said he would accent my facial features. >> it does. it accents your facial features. >> they say practice makes perfect especially when it comes to telling tall tales. speaking of that let's check in with bria
friendly tax structure. ue ktah and iowa round occupy t top 5. california takes the top spot of worst run state for second year in a row now. they match debt rates and unemployment rates for that fall. california has one of th income tax burdens and according to the tax foundation it's the third worst business tax climate in the country. on the upside the report says the state is making progress with getting finances back on track. read island, arizona and new jersey round out the top worst run...
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Nov 21, 2012
11/12
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CURRENT
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scaring the public about taxes. making the case that taxes are always bad. but the fact of the matter is and everybody knows it. we have a big budget deficit out there. somebody has got to pay more taxes and some spending has got to be cut. if it's not the wealthy paying more taxes and these are wealthy, remember, who in living memory have never taken home a larger share of total income and wealth in living memory, have never paid an effective tax rate that's as on their breath and income, these are the wealthy who are putting over something on everybody else. if they don't pay more, everybody else has to pay more. >> eliot: somebody's gotta pay it. i think the affirmative shift here is that the deal that the president offered last summer that was rejected by speaker boehner had a ratio of 10-1 cuts to revenue. the republicans said no way. we're not doing that. now we're essentially talking about something that's 2-1 and the republicans are acknowledging the revenue has to be raised. that's a sea change. >> that's progress. progress comes directly out of som
scaring the public about taxes. making the case that taxes are always bad. but the fact of the matter is and everybody knows it. we have a big budget deficit out there. somebody has got to pay more taxes and some spending has got to be cut. if it's not the wealthy paying more taxes and these are wealthy, remember, who in living memory have never taken home a larger share of total income and wealth in living memory, have never paid an effective tax rate that's as on their breath and income,...
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Nov 26, 2012
11/12
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when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just taken them to cleaners. we are going to debate this tonight. you can watch other choices. but you can still watch him and watch me. i am a nice appetizer then. that's how i look at it. appetizer. if you did online shopping i'd be a good buy. you know a lot about the cyber bye. >> demand it! >> no. >> you were shopping. >> i was not. not doing anything. >> you were. >> was not. >> that is a laptop.
when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just...
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Nov 27, 2012
11/12
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CSPAN
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by letting it expire and than any tax change to reduce taxes will be a tax cut, we will be glad to sign it. all of the super rich people who are now going to face the state tax on anything over $1 billion will be screening of their shoulders, the thing it. and rear not point to have $200 billion less in spending if after january 1 we sign a new tax bill. the fact that obama is administration is to make it sound like he is averting a catastrophe over the post 2013 -- it is an insult to people who know what is going on. host: if you think that -- do you think the president is not holding from one democratic beliefs? calving i really do not know. i just found out that ed rendell is supposedly a little type of democrat. he is one -- on one of these teams trying to figure out entitlements. this is a simple equation. we have about $800 billion more than necessary in spending. we have $800 billion more in spending that goes into the pockets of those who run unnecessary tests, insurance companies and pharmaceutical companies. and if we relocate the like most of the rational world by civil natio
by letting it expire and than any tax change to reduce taxes will be a tax cut, we will be glad to sign it. all of the super rich people who are now going to face the state tax on anything over $1 billion will be screening of their shoulders, the thing it. and rear not point to have $200 billion less in spending if after january 1 we sign a new tax bill. the fact that obama is administration is to make it sound like he is averting a catastrophe over the post 2013 -- it is an insult to people...
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Nov 21, 2012
11/12
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KQEH
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, gas taxes and social security taxes and you go out and fund the taxes that you like. that's how the 99.2%, and there's something fundamentally flawed where the system in order to get elected the members of congress have to worry about the people lobbying them day in and day out because that's their principle source of funding and the interests they represent and the problem with super pacces this year is that they upped the ante, and it was not much and then it was millions. the virginia senate race this year was $80 million. 50 million or so from outside groups and the other 30 from inside. if you're a senator and have just been elected and heaven forbid you're up in two years, what are you thinking? >> you're thinking i don't have time to worry about deficit reduction and the fiscal cliff. i have to go to a fund-raiser. i have to raise tens of thousands of dollars every day to have enough money to compete with these super packs and it would be nice if i could find a billionaire that would help me with my own super pac and that means i have to be nice to billionaires
, gas taxes and social security taxes and you go out and fund the taxes that you like. that's how the 99.2%, and there's something fundamentally flawed where the system in order to get elected the members of congress have to worry about the people lobbying them day in and day out because that's their principle source of funding and the interests they represent and the problem with super pacces this year is that they upped the ante, and it was not much and then it was millions. the virginia...
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Nov 28, 2012
11/12
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CNBC
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so when you tax a dividend, you're double taxing it. it's already been taxed once. >> right. so by that logic, let's get rid of all taxes on dividends so wealthy heirs basically pay no taxes. >> pension funds would be better off. everybody would be better off. >> look, one of the problems with these, you got to keep in mind, dividend tax rates right now are at a historically low level. they were much higher in the 1990s during that bull market. they were higher in the 1980s. >> not relevant to my point i was making. >> you're talking about completely different economic conditions as well. you're talking about a country that's scraping the bottom, coming from a recession, where any level of contraction is going to be damaging. >> jeff, we have to cut you off. bob is waiting. you know how he gets. guys, good discussion. thank you. >> all right. we started 100 points down. we finished 100 points up. bob, it's a fiscal cliff soap opeon on the -- opera on the street. >> we dropped about 10:00. we had disappointing october new home sales. that was one little disappointing piece of
so when you tax a dividend, you're double taxing it. it's already been taxed once. >> right. so by that logic, let's get rid of all taxes on dividends so wealthy heirs basically pay no taxes. >> pension funds would be better off. everybody would be better off. >> look, one of the problems with these, you got to keep in mind, dividend tax rates right now are at a historically low level. they were much higher in the 1990s during that bull market. they were higher in the 1980s....
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Nov 29, 2012
11/12
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they like taxes? >> it's a pledge not to increase taxes. people say why don't you toughen it. you don't want to change it because it is a simple guardrail. it doesn't solve the world's problems, it says no net tax increase. >> in your mind when someone signs it, how long are they committed to it? >> in writing when the person signs it as long as you are a congressman or senator. >> you are signing this for life? >> unless you intend to be a congressman for all of your life. >> a career decision. >> if someone tells you they are pro-life or pro-choice, is this 18 months or a year? how long are you pro-choice? you are telling someone who you are. i'm the kind of guy who is pro- choice or pro-life. two people have brought that up. latourette who decided to leave congress he said yeah i made that promise a long time ago and i went into district and talked about banks and mortgage. mortgage, that was 20 years ago. you are still sending me letters. people make a commitment. it's an easy simple commitment an
they like taxes? >> it's a pledge not to increase taxes. people say why don't you toughen it. you don't want to change it because it is a simple guardrail. it doesn't solve the world's problems, it says no net tax increase. >> in your mind when someone signs it, how long are they committed to it? >> in writing when the person signs it as long as you are a congressman or senator. >> you are signing this for life? >> unless you intend to be a congressman for all of...
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Nov 22, 2012
11/12
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KNTV
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. >> now the borough wants the property taxes, and i have to pay homeowner's insurance and flood insurance. >> reporter: and she is determined her family will never go through this again. anne thompson, nbc news. sayreville, new jersey. >>> up next, he shoots, scores, over and over and over. the kid who didn't just break a record? he shattered it. >>> well, you can bet this will be a topic of conversation around a few thanksgiving dinner tables tomorrow. a 5'10" sophomore from iowa just re-wrote the ncaa basketball record books, scoring a huge 138 points in just one game. here is nbc's thanh truong. >> reporter: jack taylor's shots were not fancy, just frequent, in a 40-minute game, the sophomore point guard scored a record ncaa record, 138 points. >> i can't really put it in words, i was just in a zone. >> reporter: taylor took one shot every 20 seconds, compare it to the late chamberlain, when he set the nba record of 100 points in 1962. >> i hit several in a row, i knew something was special. >> reporter: unlike the 7 foot chamberlain, taylor scored by mostly jump shots, over one, and s
. >> now the borough wants the property taxes, and i have to pay homeowner's insurance and flood insurance. >> reporter: and she is determined her family will never go through this again. anne thompson, nbc news. sayreville, new jersey. >>> up next, he shoots, scores, over and over and over. the kid who didn't just break a record? he shattered it. >>> well, you can bet this will be a topic of conversation around a few thanksgiving dinner tables tomorrow. a...
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Nov 23, 2012
11/12
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FOXNEWSW
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raising tax rates. i think raising tax rates a bit will be okay for the overall marketplace and stock marketplace. but if you raise tax rates too much, i think we can have severe problems with the private sector not want to go hire because they are insure about what their tax bill is going to be at the end of 2013. without any clarity they will back off hiring. rick: the fed chair says make a deal here and the economy looks to be in good shape. so this is the concerns. if no deal is struck we know what happens. we jump off the cliff. if a deal is struck, something everybody can feel relatively good about even though everybody will feel pain, what could that mean for the overall economy? >> i think if there is a reasonable deal struck for the overall economy. then we also -- you have got to keep in mind we have a credit rating in this country that has been hurt and if a deal is not met, then our credit rating could be hurt as well. so i think if a deal is met we have -- i think it will be temporary in na
raising tax rates. i think raising tax rates a bit will be okay for the overall marketplace and stock marketplace. but if you raise tax rates too much, i think we can have severe problems with the private sector not want to go hire because they are insure about what their tax bill is going to be at the end of 2013. without any clarity they will back off hiring. rick: the fed chair says make a deal here and the economy looks to be in good shape. so this is the concerns. if no deal is struck we...
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carbon taxes cap and trade. manhattan project for alternative energies in the minute or so we have left your thoughts but i think we need to put a price on pollution make polluters pay i mean right now doesn't cost anything to just spew as much carbon pollution to the atmosphere as possible they don't pay the cost of the extra knowledge and i think you know ideally we should look does this country need more revenues is there some sort of debt problem around there so you know we could set up a carbon tax you could either give the money back to the people that you were you know or you could use it to reduce the deficit so i think we are going to need a price on pollution and then a big program to put to push more clean energy into the marketplace right dr stout that's been done by other countries european countries for for decades actually of effectively put a carbon tax particularly on gasoline and diesel fuel hasn't worked. on. well certainly their use of automobiles is not as they're not as for line automobiles
carbon taxes cap and trade. manhattan project for alternative energies in the minute or so we have left your thoughts but i think we need to put a price on pollution make polluters pay i mean right now doesn't cost anything to just spew as much carbon pollution to the atmosphere as possible they don't pay the cost of the extra knowledge and i think you know ideally we should look does this country need more revenues is there some sort of debt problem around there so you know we could set up a...
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Nov 27, 2012
11/12
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next is the payroll tax. if you make, say, $50,000 a year, that's another $1,000 that you're going to fork over to uncle sam. then there is the alternative minimum tax, 27 million will be hit with this for the first time ever. and it's a separate calculation from the regular tax, the average cost, $3,700 a year. then there's the spending cuts, pre-cliff, if you're unemployed, you get 99 weeks of benefits, post cliff, 26 weeks. and home interest perks, bye-bye, those could all be gone. bernie sanders, good to have you with me today. and the president is making a full-court press meeting with business leaders today. and i just had senator johnson on earlier in the hour and says he's a small business owner, the president would have been wise to invite him to this meeting to talk to him about what he thinks about what could happen with the fiscal cliff, what do you think about the president's pr moves so far and what he's doing? >> well, i wouldn't call it a pr move. i think what the president is doing is saying
next is the payroll tax. if you make, say, $50,000 a year, that's another $1,000 that you're going to fork over to uncle sam. then there is the alternative minimum tax, 27 million will be hit with this for the first time ever. and it's a separate calculation from the regular tax, the average cost, $3,700 a year. then there's the spending cuts, pre-cliff, if you're unemployed, you get 99 weeks of benefits, post cliff, 26 weeks. and home interest perks, bye-bye, those could all be gone. bernie...
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Nov 29, 2012
11/12
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KPIX
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we don't want to raise taxes on anybody. so i think the best thing to do is to take that issue off the table early. >> reporter: but speaker boehner quickly shot down the idea. >> i told tom earlier in our conference meeting that i disagreed with him. >> reporter: speaker boehner's aides described the talks with the white house today as business-like. they say they're in communication all the time. and that the fact that speaker boehner himself isn't sitting down with the president shouldn't be taken as a sign that talks aren't progress, scott. >> pelley: time is running, thanks, nancy. we've been get a lot of encouraging news about the economy lately and we got more today. in its most recent survey, the federal reserve found that consumer spending and economic growth are up in all regions of the country except those affected by hurricane sandy. moving on now to syria's civil war. at least 34 people were killed today when two car bombs ripped through a suburb of damascus. syria's assad dictatorship has been trying to crush a
we don't want to raise taxes on anybody. so i think the best thing to do is to take that issue off the table early. >> reporter: but speaker boehner quickly shot down the idea. >> i told tom earlier in our conference meeting that i disagreed with him. >> reporter: speaker boehner's aides described the talks with the white house today as business-like. they say they're in communication all the time. and that the fact that speaker boehner himself isn't sitting down with the...
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Nov 23, 2012
11/12
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CNNW
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new taxes pledge. wolf blitzer is off, i'm joe johns, and you're in the situation room. >>> a new front has opened in the unrest with egypt with police firing tier gas at protesters, just outside cairo's main square. we're told the embassy was not a target. demonstrators are demanding that mohammed morsy -- >> reporter: joe, if anyone thought egyptians were tired or weary, all you to do is look at cairo's tahrir square, and that's not the case. they seem as energized at ever, and this time they're going after their current president. >> outraged, clashes, and anguish in tahrir square. this is where egyptians demanded the ousting of hosni last year. >> on thursday, the new president made himself the most powerful man in egypt by announcing sweeping decarerees says are to push forward the drafting of the new constitution, and speed up government still missing a parliament. >> if you ask anyone, overturning any of his declarations -- that border -- so technically, it means for now he can do whatever he wa
new taxes pledge. wolf blitzer is off, i'm joe johns, and you're in the situation room. >>> a new front has opened in the unrest with egypt with police firing tier gas at protesters, just outside cairo's main square. we're told the embassy was not a target. demonstrators are demanding that mohammed morsy -- >> reporter: joe, if anyone thought egyptians were tired or weary, all you to do is look at cairo's tahrir square, and that's not the case. they seem as energized at ever, and...
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Nov 26, 2012
11/12
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KTVU
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between the expiration of the bush tax cuts and higher taxes, for obamacare, the top capital gains rate will jump from 15% to 23.8, and listen to this: the top rate on dividends will jump from 15% to 43.4. how are, mr. sweeney, investors reacting to those possible, very stiff tax hikes? >> well, to that point, you want some clarity and whether the clarity comes in your personal economy at home, whether, you are a ceo or cfo of a corporation you want clarity how to spend the cash you have accumulated on your balance sheet or, if you are the government you want to figure out how to impact the spending you have at the federal level as well. americans are looking for clarity, so they can make the decisions, and, in terms of purchasing short-term christmas gifts for the next selling season or whether, again, if you are a ceo and trying to think of investing in a plant or hiring new people -- >> if i may, sir, specifically, if you have a stock and you see your capital gains, if you sell the stock, could go from 15% to 24%, at the -- on january 1st, are some people cashing out now? >> well, wh
between the expiration of the bush tax cuts and higher taxes, for obamacare, the top capital gains rate will jump from 15% to 23.8, and listen to this: the top rate on dividends will jump from 15% to 43.4. how are, mr. sweeney, investors reacting to those possible, very stiff tax hikes? >> well, to that point, you want some clarity and whether the clarity comes in your personal economy at home, whether, you are a ceo or cfo of a corporation you want clarity how to spend the cash you have...
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Nov 27, 2012
11/12
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KNTV
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tax rates, most democrats want tax rates for those making $250,000 a year to go up. republicans want it to stay the same, but would limit the deductions and close loopholes. there is a disagreement on who should be considered wealthy warren buffet argues that the timeline for the rich should be raised from $250,000 to $500,000. >> we have been open to revenues closed to loop holes as long as it is the tax reform that broadens the base and lowers rates. >> reporter: framing the debate, a no-new tax rate. many of the republicans signed for a group headed by the washington activist tax person, grover norquist. two prominent senate republicans indicated a willingness to break it over the weekend. but more importantly, will the house republicans feel the same way? >> i will tell you when i go to the constituents that reelected me, it is not about the pledge, but really about trying to solve problems. >> reporter: and brian, that is the problem here despite all the happy talk from senate republicans about the potential for compromising on taxes. the real action is between
tax rates, most democrats want tax rates for those making $250,000 a year to go up. republicans want it to stay the same, but would limit the deductions and close loopholes. there is a disagreement on who should be considered wealthy warren buffet argues that the timeline for the rich should be raised from $250,000 to $500,000. >> we have been open to revenues closed to loop holes as long as it is the tax reform that broadens the base and lowers rates. >> reporter: framing the...
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Nov 21, 2012
11/12
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MSNBCW
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they would reject $10 of spending cuts for every $1 of tax increases. why? because they didn't want to face condemnation from the media hosts you're now addressing the following day. >> and it's just like -- i'll say this again. they used to say -- i won't use the bad word, but the old days in the south, you couldn't win unless you were the furthest out of the most segregationist line. if anybody went soft on the race issue, even slightly on civil rights, you were finished. the only way you won was go hard right and become the ultimate segregationist, and that held the south back for decades. anyway, thank you, michael and ron reagan. have a nice holiday. >>> up next, the best and worst campaign commercials of the 2012 campaign coming up. it's kind of interesting. forgot a lot of these. this is "hardball," the place for politics. [ woman ] ring. ring. progresso. i just finished a bowl of your new light chicken pot pie soup and it's so rich and creamy... is it really 100 calories? let me put you on webcan... ...lean roasted chicken... and a creamy broth mmm i
they would reject $10 of spending cuts for every $1 of tax increases. why? because they didn't want to face condemnation from the media hosts you're now addressing the following day. >> and it's just like -- i'll say this again. they used to say -- i won't use the bad word, but the old days in the south, you couldn't win unless you were the furthest out of the most segregationist line. if anybody went soft on the race issue, even slightly on civil rights, you were finished. the only way...
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Nov 25, 2012
11/12
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. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come from an increase on the tax rates of top earners, which is currently 35%. >> let the rates go up to 39. let us also take a look at the deductions. let's make sure that revenue is an integral part of deficit reduction. from my side of the table, bring entitlement reform into the conversation. social security, set aside, doesn't add to the deficit. when it comes to medicare and medicaid, protect the integrity of the program, but give it solvency for more and more years. >> reporter: a source with engine of knowledge -- with knowledge of the negotiation says there is no dat
. >> i would be very much opposed to raising tax rates. but i believe we can change loopholes. >> i want entitlement reforms. democracies promise to cut spending. we never cut spending. i am looking for revenue for entitlement reform. >> reporter: senator graham says age adjustment and means testing for medicare and social security is a reasonable thing. but illinois democratic senator dick durbin doesn't want to touch social security. he thinks the new revenue should come...
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Nov 29, 2012
11/12
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FOXNEWSW
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the taxes. so an american can escape somewhat but not as effectively as the british. when margaret thatcher reduced the tax we saw an explosion of enterprise and of course a wave of tax revenue came rolling in. we were able to have a debt repayment schedule and the tax emigres came back from the tax havens that remain in the british empire like bahamas and elsewhere. >>neil: john, always a pleasure, if no for other reason than your british accent is better than stuart varney's accent. thank you very much. thank you, john. in the meantime, the man who brokers some pretty night deals for lawrence taylor, what about this one between president obama and speaker boehner? and like s. or you can get out there and actually like something. the lexus december to remember sales event is on. this is the pursuit of perfection. >>neil: maybe we just got ahead of ourselves. progress is looking not so good on the budget talks with ed henry at the white house with the latest. i am confused. where are we? >>repor
the taxes. so an american can escape somewhat but not as effectively as the british. when margaret thatcher reduced the tax we saw an explosion of enterprise and of course a wave of tax revenue came rolling in. we were able to have a debt repayment schedule and the tax emigres came back from the tax havens that remain in the british empire like bahamas and elsewhere. >>neil: john, always a pleasure, if no for other reason than your british accent is better than stuart varney's accent....
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Nov 28, 2012
11/12
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suddenly they love these tax cuts. we can't live without these tax cuts! however, republicans are now saying let's go ahead and let all of them expire. now the republicans don't love the bush tax cuts and the democrats do love them. it's totally switched. >> that is true. >> and you know what? i would never think that i would agree with this. he makes a really interesting case. that the united states by far has the most progressive tax system of any advanced country but it's not enough to help narrow income inequality because our overall tax revenue is too low and the middle class is the only people that can come and generate enough revenue to really help the people that are in need. >> which you probably have to do that, but you have to raise rates on the richest or at least find a way to bring their tax rates higher. i don't even understand w we're having this argument about marginal rates. it's stupid. >> you can't go high enough. where is your cutoff? if it's not at 100,000 -- if it's at 250, it's already too high to raise any serious money. >> they're
suddenly they love these tax cuts. we can't live without these tax cuts! however, republicans are now saying let's go ahead and let all of them expire. now the republicans don't love the bush tax cuts and the democrats do love them. it's totally switched. >> that is true. >> and you know what? i would never think that i would agree with this. he makes a really interesting case. that the united states by far has the most progressive tax system of any advanced country but it's not...
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Nov 27, 2012
11/12
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we raised payroll taxes, and we indirectly taxed social security benefits. we bought more than 50 years of solvency. today, untouched, it will make every promised payment for 22 years. you cannot say that about much in washington, but social security can. it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run it to buy solvency for a long time. i think we should take social security off the table for the current fiscal cliff but be very honest about what we're going to achieve in the near term. i think we should create the equivalent of the simpson- bowles commission for social security and give them eight months to a year to come up with a planned to buy us 75 years of solvency for social security. then bring it to the floor for a vote and allow any bipartisan group who can come up with a credible plan that meets the same goal to offer their own to be voted on in the sena
we raised payroll taxes, and we indirectly taxed social security benefits. we bought more than 50 years of solvency. today, untouched, it will make every promised payment for 22 years. you cannot say that about much in washington, but social security can. it has not added one penny to the deficit. for those who say there is a good reason to push it off the table and we brought another day, i would add a note of caution. small changes made today in social security will play out over the long run...